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1099-NEC Conversion in 2020

When you start your Sch that came over from 2019 - it should ask you if you have these 1099's - 1099M or 1099NEC? I walked a customer through this the other day, because her 1099nec's were not linking to the Sch c from last year. We deleted the Sch c info and started over. That's when I saw that it gives you a choice of "did you have a 1099M for "xyz" company or a 1099NEC for "xyz" company?" for 2020. Then you pick which one you have for 2020. If you had a 1099M for 2019, you should now have the choice of a 1099M OR a 1099NEC for that company and you pick the one you want and then the other one will be deleted.

Irene2805
Expert Alumni

1099-NEC Conversion in 2020

Please follow the steps below to check that the 1099-NEC is attributed to the correct person.

 

TurboTax CD/Download

If you are using the CD/Download version of TurboTax, the easiest way to make sure the 1099-NEC is attributed to the correct person (your spouse) is to check the form in Forms Mode, using these steps:

  1. Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar
  2. In the Forms in My Return list on the left, click on the 1099-NEC you wish to review.
  3. Check the name at the top of the form.  If it's yours and it should be your spouse, just click the box Spouse's 1099-NEC. [See Screenshot #1, below]

 

TurboTax Online

  1. In your return, click Income and Expenses and then click the Start/Revisit box in the Self-Employment section.
  2. On the Your 2020 self-employed work summary screen, click on Edit next to your business. 
  3. The 1099-NEC forms should appear in the Income section. 
  4. Note:  If the business in in your spouse's name, TurboTax won't let you enter a 1099-NEC with your name. 
  5. Click Edit next to the 1099-NEC and on the next screen check that the correct radio button is marked.   [Screenshot #2]

 

@grvijay

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